Alibaba

Alibaba founder Jack Ma has said that the company will “seriously consider” listing in Hong Kong, as the financial hub prepares to allow dual-class share listings. Reuters reports that Jack Ma made the comments at an event in Hong Kong, in response to remarks made by Hong Kong Chief Executive Carrie Lam about how she hoped…

Amazon.com has launched Prime service in Singapore to offer customers access to fast shipping, streaming and gaming. In July 2017, the ecommerce tech company launched a free two-hour delivery service in Singapore, the first entry in open competition with Alibaba Group. In a fragmented region of 600 million people like Southeast Asia, some customers were underwhelmed…

Alibaba Group has announced that the online payment platform AliPay will officially launch in Canada through a partnership with Snap Pay. Due to this announcement, Canadian retailers will start accepting Chinese currency from Chinese shoppers this week. More than 450 Canadian merchants are said to already accept AliPay in an unofficial capacity. Chinese consumers visiting Canada will…

China’s central bank has ordered online payment groups to operate through a centralized clearing house, a move likely to undercut the dominance of Ant Financial and Tencent by forcing them to share valuable transaction data with competitors. China is the world leader in mobile payments, with transaction volumes rising…

Tencent has opened its credit scoring system to limited group users on QQ, WeChat’s older sibling. This marks a big step forward for Tencent: not only does this fill in a glaring gap in their product lineup, it also puts them in direct competition with Alibaba’s Sesame Credit. According…

Tencent has applied for a license in Malaysia to offer local payment services via its WeChat Pay, reports Reuters. If approved, users in Malaysia will be able to link their local bank accounts to WeChat Pay and pay for goods and services in ringgit. WeChat Pay and Alibaba Group’s affiliate…

Alibaba Cloud, the cloud computing branch of China-based ecommerce company Alibaba, has unveiled plans to open data centres in Mumbai and Jakarta. The expansion into Indonesia follows the country’s 1,000 Start-ups Movement initiative to establish 1,000 new ventures by 2020 with a target valuation of USD 10 billion. …

China remains the largest global eCommerce market in terms of trading value, accounting for over 40% of the total transactions. Transactions through eCommerce platforms have reached CNY 26.1 trillion (USD 3.8 trillion) in 2016, increasing by 19.8% from 2015, according to a Sina news report citing data from the…

Ant Financial, the payment affiliate of Alibaba, has claimed that its number of daily active users doubled in 2016. So far, the company has not yet disclosed data about the total number of active daily users, but it has reported that over 450 million people use its Alipay service for…

Alipay, the mobile payment system offered by Alibaba, has announced is coming to the US, thanks to a deal brokered with First Data. The expansion follows limited trials in California and New York, and will bring Alipay into direct competition with Apple Pay, Android Pay, and PayPal. Alongside online…